MCUL CEO Spreads Credit Union Message on FOX17 News

On April 1, MCUL President/CEO Dave Adams was featured on FOX17’s morning news. He talked about how Michigan’s credit unions are maintaining high-quality member service during the current global pandemic.

Watch the news feature here.

Credit unions are an essential service during this crisis, and our movement knows 5.5 million Michiganders, including many small business owners are counting on their products and services. Credit unions are making sure all remote access points, such as call centers, mobile apps and video teller services are getting increased focus from staff.

Besides offering routine service remotely, Michigan credit unions have stepped up, like they always do, to offer special relief programs, such as emergency funds, loan restructuring, fee waivers, delayed payment options and many other products.

List of hardship programs that many Michigan credit unions are offering their communities:

• Deferred loan payments
• Refinancing options on mortgages
• Waived fees for early CD withdrawals, overdrafts, phone payments, overdraft fees, etc.
• Skip-a-Pay programs on auto and home loans and credit cards
• Mortgage and home equity payment relief
• Emergency hardship loans (often for up to 24 months)
• Increased credit limits
• Extended due dates on collections

In the aggregate, Michigan credit unions have about $150 million available for emergency hardship loans, and they’re making those loans easily accessible via remote services.

Check out MCUL.org for up-to-date information on COVID-19 Resources and a list of support programs offered by Michigan credit unions.